tv Mornings With Maria Bartiromo FOX Business June 7, 2022 6:00am-9:00am EDT
larry: let us not forget, 78 years ago, june 6, 1944, d-day, the landing in normandy by the allies to preserve freedom. they were brave and courageous people. maria: good tuesday morning, everyone. thanks so much for joining us, i'm maria bartiromo. it is tuesday, june 7th. your top stories right now, 6:0. today no awareness, democrats are pushing trillions of dollars of new spending today, he despite 40-year high inflation, as senator chuck schumer is expected to reveal details of his new build back better spending plan today in hopes of getting joe manchin and a kyrsten sinema to agree to a new reconciliation package which will need 50 votes in the senate
to get through, something wyoming senator john barrasso will raise today when questioning janet yellen on capitol hill in testimony. >> three quarters of americans believe the economy is heading worse than it is right now and they lay it at the feet of the policies of this administration, the massive government spending, the unnecessary so-called stimulus package of $2 trillion when joe biden came into office and maria, their solution is more of the same. they're trying to convince joe manchin, kyrsten sinema, to spend more money and raise taxes at the same time. maria: barrasso will be among the senators questioning janet yellen. tomorrow she will face the house ways and means committee on president biden's budget. markets this morning look like this, take a look at futures, showing weakness as we kick off a new day, dow industrials down 141 points right now, one half of s 1%.
s&p 500 down 18 and the nasdaq lower by 70. this after fractional moves higher yesterday, pretty much across the board. dow industrials up just about 16, nasdaq up 48 and s&p 500 higher by 13. oil prices meanwhile still hovering around $119 a barrel. the price of brent, 119, 07. the price of crude oil, 118, 07. this as triple a reports yet another record high price of gasoline, $4.91 per gallon is where we are right now, that marks 28 record highs in the last 29 days. short-term rates meanwhile looking like this, checking the bond market here after a year of spending, the yield is now above 3%. it still is down this morning 2.7 basis points, holding above 3.02% this morning after leaping
above 3%, the highest level since may ninth yesterday. spending of course continues in washington as inflation has hit a 40-year high. as you can see, we started with this administration with inflation at 1.4%, we are now at a 8.3%. most important economic data point for markets this week will happen this friday when we get the consumer price index, estimated to be 8.3% year ' year over year and 7 tenths of a percent higher p month over month. we'll have that number for you and have all hands on deck and we will be seeing any market reaction come friday. european markets this morning look like this, take a look. as we are looking at selling pressure this morning in europe as well, ft 100 down 3 points, cac down 45 and dax index lower by 127. in asia overnight, markets finished like this. in asia, and as you will see, the biggest mover was korea, kospi index down 1 and two thirds percent. meanwhile, elon musk he
threatening to walk away from his $44 billion deal to acquire twitter because he says the company is refusing to release information on the number of fake accounts. the texas attorney general suing twitter, wanting more information on the number of fake accounts, charging that twitter misled securities regulators when it reported 5% of accounts are fake. we're on it this morning. "mornings with maria" is live right now. ♪ mama's all right, daddy's all right. ♪ they just seem a little weird. ♪ surrender, surrender. ♪ but don't give yourself away. maria: and your morning mover this morning is kohl's, the stock is rallying almost 15%. it has entered exclusive talks with retail holding company franchise group over potential sale of the department store chain. the bid values kohl's at nearly $8 billion, that is $60 share. franchise groups which owns
vitamin shop and buddy's home furnishings said it intends to contribute around $1 billion of capital to the transaction. kohl's is down 16% year-to-date. this morning, reclaiming almost all of that with a gain of 15%. meanwhile, yields as we told you topping 3% yesterday, the 10 year remains above 3%. even if it is down 2.9 basis points this morning. the markets are awaiting economic data. this morning we have trade data out and we have the consumer price index out on friday. economists are predicting an increase of 8.3% which would be unchanged with the april number and up month over month by 7 tenths of a percent. joining us now is independent alliance chief investment officer, chris zacarelli. also joining the conversation all morning long, dagen mcdowell and lee carter, the author of persuasion. great to see everybody this morning. thank you so much for being
here. chris, thanks for joining the conversation. let's start with this macro story as we await the cpi later in the week. we also had a pretty good rally over the last week or so. would you buy this market here? how do you feel about the year in terms of the macro story? >> yeah, it's been a really difficult year for the stock market, obviously, down almost 20% as recently as a month ago and it's rallied back quite a bit so far. we think we're real any a trading range. we think the markets could go down as low as 20% again, had hit the lows we hit earlier in the year because of he recession fears but ultimately we think we won't have a recession this year. if that's the case, markets can go higher from here. we think we're in a range, somewhere between 3800 to 4600 on the s&p, between single digits down to 20% down. so we think that's the range. right now, we're really dollar cost averaging, putting new money to work only when the market goes down but other than that we're not really chasing this rally. we do think there's a lot of
headwinds ahead. inflation as you mentioned, just the beginning of the segment, is if biggest problem of all. the federal reserve is raising interest rates. there's a lot of headwinds to the market. we wouldn't necessarily buy with both hands here. maria: a lot of headwinds for the market, a lot of news this morning. you've got janet yellen on the hill. you've got a market that is focused on economic data, a contraction first quarter, inflation at 40 year highs and then the securities and exchange commission chairman, gary gensler, is going to be announcing new ideas to reshape the stock market. he says he wants to make it more efficient for small investors and a public companies. it is going to mean changes in the way wholesale brokers report trades. chris, your reaction? how would this affect us? >> i mean, i think it's a really interesting proposal. personally, i think the stock market has been working pretty well in terms of price discovery, in terms of creating wealth for investors. really, i think the problem is much more around the mack he crow economy.
really -- macro economy. it's inflation, interest rates, the idea we had too much deficit spending, too much money into the economy. there's 8.3% year over year inflation. that's something that needs to be addressed. regulation could have impacts on the margins but i don't really think the retail investor is going to get swept along with whatever happens with institutions. i'd have to see the policy to be certain. my initial feeling would be that's not going to be as big of a boom for investor as getting inflation under control, getting interest rates back down to a normal environment after the fed raises them. i think we're going to be in a volatile time for at least the next year or two. it's not going to be a quick fix and something like changing regulation may not necessarily be something that will help retail investors nearly as much as the economy getting better, inflation getting under control and interest rates getting back to a more normal policy after the fed is done raising interest rates as high as they're going to raise them. maria: i think you make a really important point. we all right have the deepest and most liquid markets m the
world. what are we doing here? the bigger issue is the mack he crow story that is costing american families their entire paycheck every two weeks. treasury secretary janet yellen is going to be asked about that today. she's testifying before the senate today, house tomorrow, to discuss biden's 2023 fiscal budget. you know one of the key questions she is going to be asked is how did she miss inflation like this and why are we shutting down energy production, sending gasoline prices to all-time highs. are you expecting anything new from the treasury secretary this morning? >> well, on the one hand she did admit she got it wrong. i think that's a positive. but in general, to your point, i don't know if they've explained why they got it wrong. i think they continue to blame things on short-term temporary issues like supply chain issues, like things that are happening post covid recovery. but ultimately energy is a huge part of the story with oil well above $100 a barrel, gasoline prices approaching $5 at the pump, clearly energy is one of the most important inputs to all
of american business. if you can get energy costs down, that can help the inflation problem in a way that almost nothing else can help. and so absolutely, if you have more energy independence in the u.s. you have more production if the short run, that's going to make a big difference for the consumer and politically that's not as viable for the democrat as it is for republicans. for the american consumer, they need to see more production, they're going to need to see lower energy prices. without lower energy prices i don't see how we get out of this inflation problem unless we cause a recession and those are two pretty bad choices, causing a recession or continuing to see inflation go way too high for the average person. maria: all right, chris. great analysis there. good to talk with you this morning. thank you, sir. chris zacarlli joining us. we're just getting started, coming up, americans waking up to another record high gasoline price. president biden is claiming we're in the economic recovery, he says it's the most robust
economic recovery in history. but we're in a contraction. we're in it all morning long. open then thousands of migrants demand the repeal of title 42 as they make their way to the southern border. tens of thousands lined up. what you need to know coming up. plus, utah senator mike lee is here reacting to biden's big brag about the economy while congressman lee zeldin discusses how new york leadership is handling rising crime ahead of his primary. don't miss a moment of it. you're watching "mornings with maria" live on fox business.
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at the time i took office about 16 months ago the economy had stalled and covid was out of control. today, thanks to an economic -- the economic plan and the vaccination plan that my administration put into action, america has achieved the most robust recovery in modern history. i'm not sure where he gets this most robust recovery in modern history. the tweet comes as gasoline prices reach more than double what they were when biden took office and inflation hits 40-year highs. dagen mcdowell, i don't know how you could call this a robust economic recovery, knowing that we are actually in a contraction. we had a contraction the first quarter of 1.4%, another quarter of a contraction would officially be a recession, dagen. dagen: right. 40 year high inflation, wages when adjusting for that inflation are falling. lowering our standard of living, making people poor and then you've had gasoline prices and
diesel prices but gas prices specifically have more than doubled since joe biden took office. i will just say what i said to lee in the commercial break. what is he talking about? this administration is better off just saying nothing. and by the way, i was sitting at my desk and i did the numbers. the economy still hasn't recovered all the jobs lost during the shutdown at the very beginning of the pandemic. and it's not just the talk that's so offensive. it's really the walk out of this administration. it's the fact that biden and company have inflicted this pain and suffering on the american people, knowingly and a intentionally. he promised it on the campaign trail that we're going to transition away from the oil industry and that has crushed families, individuals, and businesses in this nation. so just pipe down. if you're not going to do anything about it, zip it.
maria: yeah. and i was struck, lee, when i first read this line in that op-ed he wrote for the wall street journal, you know, his handlers wrote, and he used the same line, the most robust recovery in american -- in modern history. i have no idea what he's talking about. this is just not true. >> no one knows what he's talking about. 83% of americans right now feel that the economy is either poor or not good. they say that 71% say we're going in the wrong direction. his approval rating is at 40% which is less than donald trump's was at this point. than donald trump's is today. he seems completely out of touch and one thing i think americans really expected from joe biden was that he was going to be able to relate to them. right now what he's really doing is demonstrating that he's completely out of touch and people are losing hope that there's anything that he or the
democrats are going to be able to do to make their lives better and so -- dagen: what was it, empathy, he's not even emp a athetic. he's at the very least apathetic, if not sadistic. the word robust had a little bit of history of popular culture an episode of veep was built and the word "robust" as a joke. .[laughter] maria: what gets me is that there's such a tin ear. my sources tell me that in the senate democrats' lunch, they're going to reveal all their details of the schumer/manchin conversations of a new fiscal framework. they are looking at another reconciliation package and chuck schumer has been pushing all of
these ideas from the build back better to get joe manchin and kyrsten sinema on-board. they've got four major areas, largely tracking with the frankenstein fiscal model is how cowen writes about it. they apparently -- child care is out and medicaid gap is in. they've got a whole new reconciliation package with a trillion in spending that chuck schumer wants joe manchin and kyrsten sinema on-board. we'll be hearing a lot about that coming up. first, thousands of migrants are headed to the united states as we speak in what is being called the biggest caravan in history. christopher olivares is here to give us the lowdown and then elon musk ready to pull the plug on his deal with twitter if they can't be honest about the bot couldn't. he says it's more -- count. he says it's more than just 5% of accounts that are fake. it's the hot topic buzz coming up
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biden keep his promise and allow migrants to stay in the united states once they reach the border. he is part of a potentially largest ever migrant caravan, taking off from the southern mexican city of tepakoula yesterday, expecting to gather up to 15,000 migrants by the time it reaches our southern border, this as our next guest sent a video showing migrants concealing themselves in mountains to avoid apprehension, capturing how got-aways are able to make it further into the united states without detection the. there we are. busted right there. joining me now from the texas department of public safety, lieutenant christopher also oli. thank you so much for being here. what are you expecting with the new my caravan and tell us what you uncovered when you went into the mountains. >> good morning, maria. of course right now the biggest topic right now is the large caravan with 15,000 plus making their way to the united states border.
what we know is because as long as the federal government continues to encourage these immigrants to make the journey and rewards them by releasing them to the united states we're going to continue to see these immigrants coming across and now with this large caravan that's what we're anticipating now and the one thing i want to point out too, i remember last year, even recently we talked about how these organizations are profiting off of the caravans where they're making over $100 million a week. now we know now, just based on the numbers, based on information that we have received from mexico and also with our partners here in the united states, these criminal organizations are making over $30 million a day, over $200 million a week. so it just goes to show you how because of this mass flow of immigrants coming across the border and the caravans making their way, the criminal organizations or cartels are continuing to exploit and profit off of that and allows us to expand the smuggling enterprise across the united states where they make billions of dollars a year. maria: chris, this is just unbelievable. when i was with you at the border a few months ago, you told me that these cartels were
making $100 million a week. now you say the cartels are making more than $32 million a day just on human smuggling. it doesn't include the drug smuggling. you're right, that's $210 million a week. so the cartels are running the entry into america. is that it? >> that's correct. they have control of the entire border right now and as long as the federal government entices encouraging immigrants to make the journey the cartels will continue to enrich profits and makes them more powerful and they're able to gain more we pes pons and currency, -- weapons, currency, money going into mexico to supply them. i want to touch on the got-aways, the immigrants we caught last week in the big bend sector. the immigrants make this long, treacherous journey in the unforgiving terrain in the mountains, a week to two weeks before they make a it to a lie way and get picked up by a human
smuggler. this is a perfect example of the got-awayings we talk about and how the immigrants are able to make it into the united states and go undetected and those areas, there's no cameras, no sensors. shows you what a kinds of people are going across the borders. if we don't apprehend them, we don't know who is coming across and making it into the united states. that's a clear example of how we talk about the got-aways. maria: that's an important point, christopher. you have people who have intentions of their own. they don't want to get apprehended. that's the whole point. they're getting away and then they're in this country. we don't know what their intentions are. i know you have apprehended people coming in from ms-13 and those who are on the terrorist watch list. imagine those who are coming in without the intention of getting apprehended. i want to show you this ad and ask you about the drugs because it's advertisements like this that are popping up in new york city that are just stunning. look at this ad.
it says don't be ashamed you are using the empowered that you are using safely. lieutenant, this is an ad to tell people to use these heroin or cocaine boxes that the city is handing out so that they use safe needles and they're all over new york city right now, lieutenant. tell me about the drugs coming into this country. >> you know, maria, those ads are very disturbing, goes to show you how they're not helping the situation, how the federal government is not helping the situation when we see tens of thousands of americans are dying from fentanyl. fentanyl is on the rise. we see that. we continue to see that. we know that right now fentanyl is crossing into the united states by our borders, customs and border protection have been making numerous seizures at the points of entry. the drugs are coming into the united states and it's killing americans. nothing is being done. nothing is being addressed to focus on this point and to try to prevent what's happening, to go after the criminal organizations, to take away
their profits. that's what's disturbing and concerning to us in law enforcement. we're out there on the field, boots on the ground, trying to seize the dangerous drugs from breaking it into the interior. the federal government is not doing its part trying to stop the criminal organizations, trying to put mesh pressure on the -- pressure on the mexican government and a china who is bringing the drugs into mexico. that's why we're seeing thousands of deaths occurring in the united states because of fentanyl and methamphetamine and other drugs coming in because of the open border. maria: real quick, before you go, do you have enough manpower on the ground to handle all of this. i saw you in the mountains and you busted the people would came and got away and were hiding in the mountains. was that by chance that you were there. how do you have the manpower to stop tens of thousands of people coming in every day and all the drugs, the illicit narcotics?
>> our primary operation is to focus on the criminal element. we saw what happened with the haitians where it depleted all federal resources, left checkpoints that were unmanned which was a perfect opportunity for criminal organizations to move the products across. we want to prevent that from happening. if they make it to mexico city, they branch off in smaller groups. they're going to surge the border. it will deplete the forces for border patrol. we're taking proactive measures so we don't see the mass caravan, mass surge on the border all at once where we see thousands and thousands coming across. we have the manpower. we will continue providing the man power. we have to see where the caravans go. federal government needs to do its job, provide the resources to border patrol so we don't see what's happening right now. maria: thank you for your leadership. thank you for joining me this morning. luce christopher olivares at the
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a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. maria: it is primary season and americans are headed to the polls today, seven states are holding primary elections today. cheryl casone with the details right now. cheryl. cheryl: that is right, maria. good morning. crime and homelessness taking center stage in california. the state's jungle primary system, the top two vote getters face off in november, regardless of party. mike levine faces brian marriott and veteran christopher rodriguez among others. representative karen bass is not seeking re-election to congress, facing off against real estate developers rick carusso who
surged in popularity in recent days. looking to new mexico, several republicans are squaring off, underscoring the need for immediate border security. those republicans hoping to unseat govern -- democratic governor later this year. jeff van drew became a republican in 2020, favored to hold his spot at the top of the the ticket in the state's second district. well, now let's head overseas. boris johnson barely surviving a no confidence vote, conservatives lawmakers voting in favor of letting him stay in power. johnson calling the results decisive. the prime minister facing backlash over a few boozey parties he held during covid lockdowns. another big shake up at peloton. the pandemic darling announcing the chief financial officer will
leave the company. she will be replaced by liz codington. the stock is up about a percent this morning. apple rolling out a slate of new products and features at the annual worldwide developers conference including a new buy now, pay later feature of apple pay. the tech giant also promising to expand car play into more functions and vehicles. what else is it supposed to do, drive the car? i don't know. soon you can edit text messages. apple revealing after the message is sent users can click either the edit or undo send button to modify it. thank you, apple. there's the stock, down half a percent. all the time i get that stupid auto correct, maria. i have probably done it to you in a text message. i'm sorry and you're like what is cheryl saying on my phone right now. this makes no sense. maria: i do it all the time as
well, cheryl many thank you so much. i like this feature, the editing feature that they're talking about. thanks, cheryl. all right, the biden administration considering relaxing u.s. tariffs on chinese goods. i called this one. commerce secretary gina raimondo confirming the potential move over the weekend. white house press secretary was asked about it yesterday. >> i know when the secretary was doing sunday television she spoke to this. as she said, the president has asked her and others in the administration to look at this, to look at the chinese tariffs. i do not want to get ahead of it. she said the president's going to have to make a decision once it's presented to him. maria: this as labor advisory committee for trade negotiations and trade policy is publicly warning biden not to lift the china tariffs, writing in an official comment, quote, too many u.s. companies have failed to take needed action to address
the threat posed by ccp policies. joining me right now is fox news senior strategic analyst, general jack keane. general, it's great to have you this morning. thank you so much for being here. when president biden first took office, the ccp wanted two things mostly, i believe. they wanted the china initiative to go away. that was the initiative where the doj was investigating the crimes and investigating bad behavior like intellectual property theft of the ccp and number two they wanted trump era tariffs removed. why are we doing everything that the ccp wants us to do? what are your thoughts on this? >> well, first of all, i thought president trump was the first president to take on china economically and so many unfair practices they were having in terms of competition and what it was doing to our industry. we lost the textile industry, we lost the furniture manufacturing industry due to china and we're on our way to losing the steel
and aluminum industry and when president trump came in and i thought it was a sensible policy. i think most of us believe in free trade. but the facts are this was he designed to protect the american worker. and that's what those tariffs have accomplished. and i know there's pressure here certainly because of inflation to he remove some of them but i think they should stay in place for that basic reason, to protect the american worker and it's high time that the united states stood up to do that in the face of that destructive competition practices which destroyed so many industries in america. so i'm for the status quo here and keep them in place. maria: i'm glad you went through that, because the way john ratcliffe has explained it to me in the past, general, is rob, replicate, replace. that is the ccp's strategy, to overtake american industry and become number one in its place.
you've gone through a number of industries where they've done just that, rob, he replicate and replace. that's what they want to do to a whole host of tech sectors. >> yeah, there's to no doubt about it and the tariffs are certainly an imposition to that. i also believe that the economic deal we made with china where china was going to increase its exports which they have done somewhat but they haven't fulfilled their obligation of the deal was another step in the right direction here in terms of economic policy with china. certainly our overall policy of having to confront china in terms of its regional and global ambition, something we talked a lot of about here is something that clearly has to be strengthened. the biden administration has taken on a lot of trump policies and strengthened them and there's more to be done here in terms of establishing an effective military deterrence still that has to be established in the region given the erosion of our military capability.
maria: how long have you been saying on this program we're out-gunned when you take a look at the navy in china versus the navy in the united states. you've educated us on this subject for so many years, general. but i want to move on to another subject and that is the middle east. the president reportedly considering this trip to saudi arabia now for nearly a month, general. despite the white house saying that oil would not be on the agenda. biden is reportedly growing more open to a face-to-face meeting with saw city's crown prince to convince him to pump more oil. general, i'm struck by this. this president has not even been to the southern border. he has not been to ukraine. and now he's considering a trip to saudi arabia. is that going to help in terms of getting more oil onto the market, do you think, to get prices down? >> well, opec increased the flow of oil last week. i think it was on thursday. it may have some additional benefit from that as a result of
a visit but i think the biden administration here has been misguided in dealing with the middle east. when they came in, they softened up on the trump sanctions with iran. they did not strengthen the abraham accords. then they stiffed saudi arabia and the uae which were both -- who both are going to receive military assistance deals with the united states and they particularly stiffed the relationship with saudi arabia. look, i get it. the united states has had a relationship with saudi arabia since world war ii when franklin delano roosevelt established the relationship and as a result of that we have had to operate our foreign policy and a national security at the intersection of what is best for u.s. national interest and also what is best for american values and by that i mean we've had to balance that we've had republican and democratic presidents through all those years, many decades,
have to do just that. stiffen the arabs in the middle east is not the answer -- stiffing the arabs in the middle east is not the answer. the global economy depends on the flow of persian gulf oil. stability and security is what we want in the pest. consistent fronting iran is essential. we need arabs and israelis to do that. that's why the arabs and israelis improved relationships because of the threat of iran. we have to be an effective leader in helping bringing that together. if a visit to saudi arabia is going to move the saudis in that direction, then i'm all for it. maria: yeah. but general, it's also about the iran deal. okay. the saudis don't want the u.s. to get into another iran deal but they're still negotiating through russia or whomever to get the united states back into the jcpoa, right? >> yeah. the saudis -- the arabs by and large do not want another
nuclear deal to repeat the mistakes of 2015. that's certainly the position of israel, very strong position and also of the arabs. so they're opposed to it. they know it's a pathway to a nuclear weapon and, listen, there is real danger here. we're focused on ukraine. we're focused on china. but if the iranians get a nuclear weapon, the arabs are not going to sit on their hands. they're going to get nuclear weapons pretty quickly themselves and then we have the likelihood of the first nuclear exchange. this is the most dangerous neighborhood still in the world today, the middle east. and we cannot have the parties in the middle east armed with nuclear weapons. that makes no sense whatsoever. maria: well, they want to undo what president trump put in place. i heard you're not even allowed to murmur the words abraham accords at this white house, general. that's what i'm hearing but we're going to be watching
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prices falling back under $30,000 this morning, take a look. we are at 29,618. the cryptocurrency dropping as much as 7.1% yesterday to just over $20,000, lowest since may 30th. joining me right now is domain money founder and ceo, add a dam dell. thank you very much for being here. what do you think is going on with crypto. >> well, it's important for investors to appreciate that block klain technologies and crypto -- block chain technologies and crypto markets are very nascent. thousands were trying to become amazon or google, only a dozen rose to prominence. the same thing will happen to crypto over time. maria: i get that. economist paul krugman calls cryptocurrencies a scam, he compares crypto to the 2008
housing bubble. he says this is a he repeat all over of again and we'll see it go from growth to scam. your reaction? >> yeah, i read the piece. i remember when paul like benned the internet to the fax machine. he was wrong then. he's wrong now. maria: yeah, he's been wrong a lot. he also told us about -- that the economy was never going to recover when donald trump was in charge. in fact, we had a great economy under the trump administration. let me ask you about the senate homeland committee, set to hold a hearing on the threat of ransomware attacks and payment enabled by cryptocurrency. they're introducing a crypto regulation bill today, adam. we've been waiting to see what kind of frameworks the lawmakers would come out about a poe he ten shale regular la tore -- potential regulatory backdrop for crypto. what is your opinion on
government regulation of crypto. >> crypto regulation is coming. there's broad bipartisan support for this bill. it puts regulation under the cfdc rather than the s.e.c. this is a good step forward in the industry. regulation needs to be brought to bear to make this industry more mature and more accountable and in order for it to enter the mainstream. it's critical that the united states take the leadership role in pushing forward with these technologies. if we don't, we risk losing our stronghold as the center of the financial world. countries like the u.k. have embraced block chain technologies and cryptocurrencies. it's incredibly important that the united states do the same thing. if you look at what's happening, the federal level, there is a vibrant set of debate and policy analyses going on around what
the digital dollar should be it's inevitable, it's coming. it may take a bit longer but we're heading in the right direction. maria: just to be clear, adam, would you buy crypto today at these prices? >> you know, we were here about a year ago in terms of bitcoin and ethereum. if you looked at the long-term trend, it's clearly a trajectory up and to the right but the overheating of this market happens, particularly because it's so accessible to anyone, anyone in the world can buy these assets and that market availability increases the overall volatility. maria: that's a yes, that's a yes. >> i'm quite bullish on the long-term prospects of the underlying technologies that make up block chain. maria: okay. add a dam, thank you so much. adam dell joining us this morning on what has been a wild ride for crypto. we'll see you soon, adam.
quick break and then elon musk's ongoing battle with twitter, he says he will not go forward with this deal unless his terms are met and that means the true number of fake accounts on twitter. it's the hot topic buzz and it's next. you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. what if you were a global energy company?
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from the 44 billion-dollar deal to acquire twitter if he doesn't get answers to his questions. the ceo of tesla accusing twitter of resisting and that is right thwarting his right to fake accounts. this is material breach of twitter's obligation. what do you make of this? dagen: ken paxton launched investigation into twitter about the same time about allegedly reporting fake bots accounts in violation of texas dekeptive trade practices and interesting because the headquarters of tesla has moved down to tesla. there's a break-up fee involved if this deal falls apart. a billion bucks but there are certain scenarios where elon musk can walk away and pay termination fee and leave the transaction behind and only if say regulators block the deal or
the debt financing falls through. so if he decides to say so long to this deal, it's going to be a very, very long legal fight. i still think it goes through. maria: regardless of what happened, lee, elon musk has exposed twitter. now we know that there are a lot of fake accounts and robots there and some of those tweets are just not real. >> i mean, i think it's really fascinating to look at what elon musk has done because everybody has been talking about the fake bots. everybody talking about can you trust social media and what's going on in here and he really has in doing this exposed something that everybody has talked about change the way we view social media and what elon musk set across the board, exposed problem with the economy and how being you can friendly to business and what that means, moving headquarters down to texas. he changes the conversation every time he does some of the
really provocative things and this is just the latest and i think important. maria: that's right, dagen and lee stay right there. the next hour of mornings with maria begins right now. good tuesday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo and it is tuesday june 7th, your top stories right now 7:00 a.m. on the east coast. today no awareness. democrats are pushing trillions of dollars in new spending right now despite 40-year high inflation as senator chuck schumer is expected to reveal details of build back better reconciliation spending plan today in hopes of getting joe manchin and kyrsten sinema to agree to new reconciliation package which will need only 50 votes to get through the senate. something wyoming senator john barrasso will raise today when he questions janet yellen on
capitol hill. >> 3 quarters of americans believe the economy is heading worse than it is right now and lay it at the feet of the administration, the stimulus package of $2 trillion when joe biden came into office and, maria, their solution is more of the same. they are trying to convince joe manchin and kyrsten sinema to spend more money and raise taxes at the same time. maria: i'm told this new reconciliation package has a trillion dollars in increased taxes. barrasso will be among senators questioning janet yellen today. she will testify before the senate finance committee this morning and then tomorrow she will face the house ways means committee on president biden's budget. going into that testimony, we are at the lows of the morning. take a look at the dow industrials. indicating a 200 point selloff at the start of trading this morning. dow down 198 and s&p down 21 and the nasdaq lower by 100 points,
3 quarters of 1%. this after fractional moves higher yesterday. the market was higher across the board. we are getting some recent more tough news on retail this morning and that seems to be one of the triggers to send markets toward the lows this morning. yesterday the dow was up 11. nasdaq up 48 and s&p higher by 12. oil prices this morning hovering around 110.19 a barrel. even with fractional decline, gas prices at new high. present 119.36 and crude oil 18.49 flat on the morning but triple a this morning is reporting yet another record high price for the price of gasoline across the nation. 4.91 a gallon marking 28 record highs in just the last 29 days. short-term rates meanwhile at 10%. it is at 3.029%, that is down
two basis points on the ten-year but still above 3% which has been problematic after a year of spending. sent inflation to 40-year highs and the most important economic data point for market this is week will happen on friday when we get the next led of this timeline, the may consumers price index is out on friday. it is expected to hold teddy of 8.3% and 7 tenths represent increase month over month. we will have those numbers for you friday morning, all hands on deck reporting on the inflation of the day. european markets this morning are lower, take a look at the euro zone, fractional moves here on the downside, ftse 100 down 13 and dax by 85. in asia fractional moves. meanwhile elon musk threatening to walk from 44 billion-dollar deal to acquire twitter because
he says the company is refusing to release information on the number of fake accounts and texas attorney general suing twitter wanting more information on the fake accounts charging that twitter may have led securities regulators when they reported only 5% accounts are fake. mornings with maria live right now. and it is time for word on wall street. top investors watching your money, garthman letter editor, denise garthman, payne capital ryan payne and brandy wine global fixed income jack mcintyre. denise, i want to kick things off with you. we do see negative retail this morning. target coming out with new forecast for the second half of the year sending the stock down 4 and a half percent. yields in the ten-year dropping, topping 3% rather yesterday, dropping from the level this morning but still above 3% on the ten-year at 3.027%.
markets are waiting for the consumer price index out on friday where we are expecting inflation to hold steady 8.3% and up 8.3% year over year denise. what are you expecting the second half of the year to look like as we hear from target this morning on weaker margins than people expected? >> the problem that you have obviously is the fact that as you just reported we've had 28 out of the last 29 days, money is going to gasoline tank instead of going into retail sales and i think that's going to continue. there's nothing to think that -- to push gasoline prices down over the course of the next several weeks or months. they are going to stay very high for the foreseeable future. i don't think this is transitory. i think this is endemic and this is going to last for some period of time. so the fact that we've had a decline in retail sales does not
surprise me at all. i think this is going to continue and i've been bearish in the stock market since january 5th of this year and i depth see no reason to change my point at this point. we may get respite for one month, small respite in cpi but not up 7 tenths, closer to 5% but still a very disappointing number coming out. so you'll get a brief respite in cpi but it'll only be one month at most. maria: well, i don't know if 8.3% is a recess pit, because it doesn't go up doesn't mean it's a good number. we can be holding steady at 40-year highs. i don't call that a recess pit. >> that is correct. maria: jack, we are hearing from
commission and he's about to announce that tomorrow we understand making it more efficient for small investors and public company he says. the wall street journal has an exclusive this morning on what we are going to hear from the sec chairman. why are we changing things that work. we have the most deepest and liquid markets, your reaction on how that affect investors? >> yeah, maria, if it's right. if it's not broke, don't fix it. the retail investor is big part of the market and you want to feel that they were always getting best execution. we have been doing it on institutional level and clients mandate and fiduciary responsibility so you want to make sure that the retail investor believe it's a level playing field and again increases competition in terms of getting back execution, that could be a good thing but this is a big deal, so they need to take their time and talk to a
whole bunch of different market participants to make sure we are going to do this right. >> yeah, so what about your take on yields and 3%. is that the number that should scare investors out of investing in stocks and push them into fixed income then? >> so, yeah, the concept of tina, there's no alternative to equities, well, there is. you finally started to see some yields. as denise pointed out, inflation is sticky and fed t fed will tighten until something breaks. i think the fed is okay frightening financial conditions and that's a long break. maria: okay, okay, jack. let me move onto ryan because ryan we do have breaking news this morning, we are showing it at the bottom of the screen. target is planning several actions in second quarter,
target management says that they are expecting the second quarter operating margin to be 2% versus the guidance that they initially gave us of 5.3%. this is a major problem this morning for target stock, it's 7 and two-thirds percent but also taking the rest of the market down with that. look at where we are. dow trails down 232 points right now at the lows because of this news coming from target. yesterday, of course, was the first trading day following amazon's 20 for 1 stock split. this is the fourth time amazon has split its stock since going public in 1997 but amazon is right in the middle of what is clearly a slowdown in retail. we are seeing it at target and we are seeing it across the board in retail, amazon is down 2% right now. i know that you say we are in a technical recession but an overall economic recession, what does that mean? >> well, i think tech specifically has problems here.
we are seeing layoff as cross the board. close to 1800 tech layoffs last month. we had elon musk come out and say basically i need to cut 10% of my workforce and that's reflected in the market right now. the only bear market we are seeing right now is in tech. i will give denise props for his call but it's really concentrated in tech right now. if you look at s&p 500, if you underweight to tech and equal weight s&p 500, only down 8% for the year and if i look at a value portfolio if you think about names like jp morgan, brookshire hathaway, only down 1% for the year versus tech down 20% for the year. clearly what i think we are seeing, maria, right now repricing but disproportionally hitting parts of the market like disruptive technology, amazon is a great example. it's been terrible this year but value stocks are holding up
well. we are down less then 10%. so once you get outside of the fact that tech is in a slowdown, you are seeing the layoffs there because last time i looked we had $390 trillion to economy, that's not an recessionary environment. i don't think we will go into recession. i've been saying it week after week. at this point it's just about allocating portfolio correctly. that's the bottom line here and all respect to denise. maria: so you say it's a technology recession. what about target? it's warning of weaker manager i said and taking a whole market down with it, ryan, so, yeah, you're right, it's selective, you shouldn't own tech, i guess, but do you not own retail as well. >> look at nordstrom, they cake out with fantastic earnings. depends on the retail as well. it's not germane to every single retailer out there. if you look at retail, you are
talking about specific names. overall earnings went up last quarter and will go up this quarter and we should have positive gdp growth this quarter. you have certain areas, yes, but the overall market again, i still think this year, we talked about inflation going up, you want to own stocks that pay dividends and increase cash flow over time. cash is trash, that's not where you want to be right now. maria: all right, gentlemen, this is what makes the word on wall street. it's pretty much telling us that, denise garthman, ryan payne. we break down the state of cybersecurity and how business can protect as data breaches rise. don't make my exclusive interview with the ceo of verizon business, tammy irwin is here at 7:30 this morning. don't miss it. hottest items from fox nation
auction series selling history. one iconic piece from 1976 expected to sell for well over $400,000. wait till you see what it is. joining the conversation all morning long. dagen mcdowell and lee carter. we will get back to the fantastic panel when we come right, you're watching mornings with maria live on fox business.
maria: welcome back, house speaker nancy pelosi back in the spotlight because of her stock trades. the lawmaker disclosed her husband paul pelosi purchased options to buy up between 750,000 and 1 and a half million dollars worth of apple stock and up to $600,000 in microsoft stock last month. the news coming just months after the speaker signaled that she may be willing to advance a bill to band individual stock trading by lawmakers. she had previously shot the idea claiming it's unfair to exclude lawmakers from playing the market but that was really disingenuous, dagen, because nobody is telling her to not
have access to the stock market like most of us who may have access to inside information, there are indexes to buy or exchange traded funds or mutual funds rather than buying individual stocks. so she's just in-disingenuous. your reaction. dagen: i don't think she cares about the appearance of impropriety anymore. i've said this before, but this woman is so out of touch. she thinks the golden coral is a chain of jewelry stores in texas. these aren't even stocks, these are option trades. since i started working on financial journalist 30 years ago i never owned individual stocks. i've always owned mutual funds or exchange traded funds. never, ever owned an individual stock. but we know that she's rich, look no further than the car
that her husband was driving after that accident and dui that he got. it was a porsche as we say down south. maria: yeah, well, i mean, lee, this is the woman who is overseeing legislation, writing legislation for tech companies and everybody else, lee, i mean, we just recently learned microsoft was going to be getting a big contract from the department of defense. how does she buy the stock before we know what's going on in terms of government business with these companies? this certainly doesn't good look. >> it certainly doesn't good look at all and it's not fair but the bottom line that i find ironically, she's one of the leaders of the party that's supposed to be fighting against big companies. she's supposed to be fight pgr the little guy. and it's simply the hypocrisy is
so staggering and why people aren't more upset about it is intriguing because it's contradiction of what her policies and what her party is supposed to stand for that she's able to take advantage of these kinds of things. maria: yeah, when we come back, look at what president biden has done to the economy as we sit here in a contraction. we will be right back. ♪ ♪ ♪
maria: welcome back, president biden making some bold claims on twitter yesterday just like he did in recent op-ed, the president tweeted this. at the time i took office about 16 months ago the economy had stalled and covid was out of control. today thanks to the economic plan and the vaccination plan that my administration put into action america has achieved the most robust recovery in modern history. most robust recovery in modern history? the tweet comes as gasoline twices reach more than double what they were since biden took office, inflation at 40-year high and democrats pushing more spending, trillions new spending as senate majority leader chuck schumer is expected to reveal details of his new build back better reconciliation plan today
at a democrat lunch. he's also the author of the new book saving nine, the fight against the left's audacious plan to pack the supreme court and destroy american liberty. senator, great to have you, congratulations on the book. i want to get to your book in a moment because this is a really important subject and i'm glad that you wrote about it. what can you tell us first, though, about all of the spending. we know we are at 40-year high at inflation, we know gasoline prices have doubled since biden took office and yet he's calling this the most robust economic recovery in modern history even though we know that the economy is shrinking. we are in a contraction, the gdp was down 1.4% in the first quarter. what is the president talking about? >> this is a recovery, i shutter to think what a contraction or what a recession would look like. this is absolutely unbelievable. look, the average utah family is
spending additional $751 a month, every month just for their basic monthly household expenses relatively to what they were spending last year. he's decimated the economy. he's done so by among other things overregulating and by throwing all this government money to the economy us inflating the dollar, this is the foreseeable results that we are seeing. now he's talking about build back better negotiations, this is like throwing gasoline on a fire and expecting it's going to throw it out. maria: i think this is just extraordinary that we are taking a look at food inflation in america and inflation from used car 22.7% to the price of eggs up 22% year over year and they are still negotiating a new reconciliation package. can you tell us what you're hearing in terms of what's in this package and what chuck schumer wants to do. my sources tell me that there's
a trillion dollars in new taxes that there is 320 billion in clean energy tax credits and there's, he claims 2 to 1 renew to spending. he's got all the taxes in place to pay for the new spending that he wants. what's happening in terms of reconciliation plan, planning? >> nothing is going to super charge an economy that's slugging and throwing, you know, a third of a trillion dollars on top of that in subsidies for green energy. subsidies for things that are oversubsidized and that are causing our economy to be more sluggish. and he's also doing this, i think, in order to distract attention from the fact that energy costs have skyrocketed under his policies. and so he's trying to hide that pretending like he's going to help here when, in fact, his energypolis have inflation as their goal. they have increased the price of
fossil fuels as their objective. this is a problem and it's a problem for all americans. maria: i know that they would need only 50 votes for the reconciliation package. do you have any idea if joe manchin and kyrsten sinema are on board in this package. >> i have great confidence in joe manchin and kyrsten sinema and their ability to stand up to the administration and every single time this goes through, one or the other sometimes both ends up having a concern. i am worried, though, i'm worried that they're even entertaining this at this moment. i wish they weren't because if there's one thing that we don't need is this reconciliation package. this thing will do great harm to the economy and so i hope they will continue to stand up to the white house as they have in the past and they're not going to go along with this because it would be bad for the country and horrible for the economy. maria: well, it's incredible that an top of these added expenses from gasoline to
inflation everywhere that now we are going to be ready to pay higher taxes as well. the white house has invoked the defense production act to expedite production of solar panels and the administration it's an effort to lower energy costs and create new jobs, senator, what's this all about. is this administration also rolling over once again for the chinese communist party removing china tariffs? >> yeah, look, this isn't a plan, this is a pipe dream. the idea that this is going to help the economy is absurd and this is an idea that i think is going to do more to help china than it is america. it's going to help china at america's expense. maria: you write about the left in your new book, about the effort to pack the supreme court, your book is out today, tell me what they're trying to do and why you see this as dangerous? >> okay, so look, they're responding to what they like --
they don't get their way. they're correcting themselves and the left can't handle that. they want to give president biden the ability to appoint as many as 4 new supreme court justices not because they think the supreme court is, you know, understaffed and overworked but rather because they want to secure a political outcome. every time that we do this we call it court packing, court packing is bad. as i explained, the last president to undertake this effort was franklin d roosevelt, another democrat, one who joe biden holds out as idle and he wants to emulate. last time it what happened it failed legislatively and left a horrible mark in the supreme court and constitutional system. i explain this on chapter 4 in saving nine which is out today. maria: i thought we were going the find out who leaked the memo on the abortion ruling.
we still don't know. what's going on with that, senator? senator: so the investigation is still ongoing apparently. a few days ago indicated by the supreme court that they are still investigating. they are still asking the law clerks over there to submit their phone records, to sign sworn affidavits, i still believe they are going to find the leaker and i also believe that the leaker will never practice law again and should never practice law again. this is part and parcel. this is exactly what a lawyer is expected to be able to handle which is the opportunity to deal with the information, not belonging to the lawyer and do so responsibly and consistent with his ore her obligations under the law. so this is just disgraceful and it's unprecedented. never has leaked a completed draft opinion before. they are doing this to delegitimized court. same effort to pack the court so they can make it in joe biden's image.
maria: the leaked helped them to move the ball forward. senator, we will pick up your book. we appreciate you joining us senator mike lee in dc, thank you, sir. >> thank you. maria: we will take a break, when we come back the ceo with verizon business, we will get tammy irwin's take on where the businesses are still spending money in. tech. we will be right back.
maria: welcome back, two suspects arrested in connection with the mass shooting in philadelphia that left 3 people dead, nearly a dozen others injured. cheryl casone with the details, cheryl. cheryl: oh, maria, one of the suspects charged with attempted murder. the other facing aggravated assault among other charges, here in new york city a manhunt is underway for a man who violently pushed awoman under the subway tracks in the bronx on sunday. the attack appeared to be random and the victim appeared to be taken to the hospital with cuts on hand and arm, kathy hochul signing series of gun control
bills in response to last month's buffalo shooting. age to buy automatic rifles 18 to 21, barriers to buy bullet proof vests and body armor. the fate of san francisco district attorney is now in the hands of voters, today's recall halfway into his first term. liberal da on reducing completion rates and fighting massive incarceration in crime city but residents have grown frustrating with the rise in crime. recall effort a political attack. finally, there's this. fill in the need. the need to sue. >> what the hell? >> good morning, aviators. >> yeah, good morning, paramount, you're being sued for copyright infringement by the family of the author who came up with the original storyline back in 1983.
they contend the copyright expired in 2020 so the sequel is infringement. paramount says the claims are quote without merit. by the way top gun has made half a billion dollars so far. shocking somebody would sue the studio over that. maria: all right, cheryl, thank you so much. meanwhile we are taking a look at the macro story this morning, verizon business releasing its 15th annual data breach report which highlights cyber threat security. most concerning fighting the search in ransome ware breaches. joining us verizon business ceo tammy irwin, tammy, great to have you, thank you very much for being here today. >> of course, good morning, maria. thanks so much for the chance to be here. maria: this is a really important report. tell me about the key findings,
what you learned about breaches and how they get to us. >> yeah, maria, thank you, the dbir, the data breach investigation report is in its 15th year of publication. it's within of the most recognized reports on cybersecurity and there's never been a more important time for us to be talking about cybersecurity given right now given the environment. we talked to 25,000 individual that is were involved in security breaches, what we found is about 20% of those went from investigation to full breach. you hit on one of the most important highlights and that is the increase in ransome ware, ran some ware attacks up 15% on a year basis, more than what we have seen in the last 5 years. ransome ware is the easiest thing to do.
steal the information and sell it back to the person that you stole it from. it's something that we are seeing happen. another critical thing that we found in the report, 4 out of 5 breaches are initiated by criminals that are organized crimes, these are experts that know what they are doing and 80% of breaches involve human error. if you think how do you prevent, how do you educate, a lot that you can train and prevent for and something that you can avoid. maria: that's my next question, what should we be doing in terms of trying to protect ourselves in the face of all of this in. >> yeah, the thing that we are talking about doing is creating a framework to manage cybersecurity and we are having discussions with cto's, cio's and the conversations we are having is not if, it's when because i think every business
should plan that they would have a breach of some sort. what we build in is incredibly tight security into our network. we think that's the most important place to build that and then we build a prevention plan and then we build an early detection plan so that you can detect very quickly if there's a problem and then a remediation plan and you build all of those together and then the other thing that we are doing is a lot of break training with employees, how to avoid fishing, how to manage your credentials, how do you work in a hybrid work environment when you're moving your things back and forth between an office and home office, what does that look like and so those are the things that we are doing with our partners around the world. maria: that is great advice and thank you for that report. this is something that we are all dealing with. tammy, i want to switch gears and ask you about your business and the growth of your business, obviously the wireless business doing incredibly well and that is a major positive for verizon. what can you tell us about
businesses small and large buying wireless phones for their mr.s, we are talking about the macro story all morning, tammy, and this morning target is warning of weaker margins, jamie dimon last week said we are expecting an economic hurricane on the way. what can you tell us about the wireless business with regard to businesses spending on this kind of product? >> yeah, maria, at the macro level, i think, none of us can deny that there's an economic pressure around the globe but what i can tell you is the buying that i'm seeing from small and medium customers, global enterprise customers, public sector customers as well is that they're putting more and more effort and investment into building out an infrastructure that enables them to accelerate digital transformation and ultimately take out of their business and serve customers better and faster. it's part of the reason why i couldn't be more excited about acceleration and the 5g capability and we now have
115 million pops covered across the u.s. and kyle who is our cto has committed to making the number, 175 million plus by the time we get into the end of the year. customers are investing in network, security, applications and solutions and we really have multiple paths to grow, mobility, fixed wireless access so business, internet and private networks and mobile edge compute and something customers know it's critical to building out the 21st century infrastructure, mobility broadband and cloud and we are delivering that to customer and are mission critical to the business. maria: if you see small businesses buying new wireless phones for employees to tell you what business portion of business is doing real well, tammy, but we have been waiting for 5g to really materialize on
level and there was a deal with verizon and blackrock, are you seeing others coming to the table with 5g? >> we absolutely are. blackrock in new york or uk, we have funnel of customers who are saying i always purchased network as a service from verizon, now i would like to add in private networks and we are building those at scale today, selling them around the globe so the customers can, in fact, manage their own networks or give them to verizon to manage which is what most customers are doing because they want to know that the private network they are building gives them their own personal access but it's managed by verizon. it allows us to really care for security capabilities in the way that we know is important and so we are seeing a very rapid acceleration of private networks for small businesses all the way through global enterprise customers and around the globe
which is pretty exciting because that becomes the gateway to how do you take all of the data that sits on private networks and accelerate edge compute which is really the next phase and we are the only carrier in the world that has partnerships with all 3 of the big hyperscalers, amazon, google as well. maria: and is the next big wave of connectivity to the car, tammy s where the next phase takes us? i know technology is the biggest thing in a car today, right? >> absolutely. listen, maria, i think it's connectivity to the car but i would tell you that it's connectivity to everything. it's not just connecting our phones but it's connecting our cars, it's connecting our homes, it's connecting our schools. it's connecting everything. maria: yeah, which makes protecting that data that we talked about on top of the interview that much more important. tammy, great to talk with you. thank you very much for weighing
on all of that. we appreciate your time and we will be watching the developments. >> thanks so much, maria, appreciate it. maria: and to you, tammy irwin, verizon. we are showing big-tect items from next auction series selling history. you will never believe what within iconic from 1976 is going for. wait till you see this right after the break. ♪ ♪ ♪ ♪ ♪
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maria: welcome back, several rare and remarkable items from throughout american history about the hit the auction block later this month. you can be the owner of apple computer from 1976. watch this. >> it is the burden that changed the world. revolution in tech. >> it's like christmas morning opening these things. >> build by the ultimate odd couple. >> started with board made by a couple of hippies in a garage. >> now up for auction. >> of course, i'm worth it. it's worth a pretty penny if it works. maria: yeah, this computer is just one of the items featured on fox nation selling history which is available now. joining now the man who automobile accidents items. great to see you again. let's go through some of these
originals, start with original apple 1 computer. does it still work? >> maria, there's a whole episode on selling history about this apple 1 and if it works and it actually it does and it goes for right now they t bidding is $119,000 and they expect it to go to $400,000. maria: that is very cool. you've also got ronald reagan's putter, you've got a pistol from the st. valentine's day massacre. walk us through some of the other items there. you have a hand controller from apolo 17. >> right, we have the truth -- we have the verified golf putter from ronald reagan when he was an air force one going to see gorbasha for the first time. they used this handle to bring us back for the last time from the moon. it's a fantastic, it's a fantastic item.
maria: very cool. the show does not end after 6 episodes, there's also an action that will be carried live on fox nation on june 23rd, what can you tell us? >> well, the show builds up into this auction and then on june 23rd, fox nation is going to broadcast live the whole auction. so you're going to see what each of these items actually sell for and that's what's really kind of scary for us because this showed in present form does not have an ending so this is going to be an incredible day, june 23rd from boston being broadcast live. maria: what is that officer picture there and his badge, tell me about that one? >> sure, this is antonin lawrence williams and he was killed at the attack of pearl harbor and when the differs when to recover remains, these were wings that he had. if you look at them under the microscope and watch episode and
you can see the blast and how the man gave his life for the country. it's an incredible story. maria: wow, thank you to him and his family as we just past memorial day. he was one of those people who made the ultimate sacrifice. beeny, great auction, thank you very much for walking us through it. good to see you as always. bobby livingston. watching the full six part series selling history available now on foxnation.com. stay with us to see items auctioned live on fox nation on june 23rd. selling history coming up. hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!
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. maria: welcome back americans waking up to another record high price of gasoline, and diesel, not only metric worrying drivers jeff flock live in front of a gas station in philadelphia this among, jeff, good morning to you. >> out here maria 4.91 up a nickel overnight, another record as you point out. and yeah, 29 cents just in the last week. people get scared when they see it rising so fast one thing to tick up like it was for a while, up 61 cents in the last month 3 dollars this time a year ago 13 states plus the "of columbia in excess 5
dollars a gallon maine, massachusetts jj make it into five dollar club in pennsylvania where i stand 4.98 right now over 5 dollars well over 5 dollars in philadelphia. of them andy lipow dead-on forecasting all of this, says we are far from the worst. >> we're seeing gasoline demand increase at the same time that gasoline, are at lowest levels for this time of year since 2014 bp. combined with other events that are happening in the world, gasoline prices are going up, and i expect over the next week we are going to see 5 dollars a gallon as national average. >> speak he go of all time records i can't say getaway without mentioning natural gas, that set 14-year high yesterday closing on nynex up almost 10%, there is no good
energy right now maria, you need to ride a bike. maria: wow! jeff i am looking at prices behind you, and diesel is one dollar more expensive than regular gasoline that is going to be a problem, for inflation. yeah, i see it behind you jeff new york thank you very much in philadelphia dagen this is the issue you've been pinpointing now for a while almost a year. dagen: yep, day one of the biden administration, this is was the point, as they say the pain is the point to push people into alternative fuels natural gas, incredibly clean burning, skyrocketing in price people' electricity bills will be through the roof. all summer long just -- it is tragic what is happening to working men and women in this country, and, abomination, quite frankly, how the biden administration he handled this.
maria: yeah, we are also expecting blackouts, by the way. electricity bill all the way up still getting pour he a outages stay right there next hour of "mornings with maria" begins right now. . maria: good tuesday morning, everybody thanks very much for joining this is morning immaterial maria bartiromo, tuesday, june 7 your top stories 8:00 a.m. on the button on the east coast. today eat retail blowout aztar cuts guidance lawmakers have no awareness what is really going on in the economy democrats are still pushing through a new spending plan right now, despite 40-year high inflation, senator xhuk chuck is expected to reveal detail of new "build back better" reconciliation plan today in hopes getting joe manchin and kyrsten sinema onboard, to a new reconciliation package will need only 50 votes to get through the senate something wyoming senator barrasso will
raise a day when he questions janet yellen own capitol hill. >> three-quarters believe the economy is worse than it is right now the massive government spending unnecessary so-called stimulus package two trillion dollars joe biden came into office, and maria, their solution is more of the same, they are trying to convince joe manchin, kyrsten sinema spends more raise taxes at the same time. >> a trillion-dollar in new taxes in that spending plan i am told barrasso among centers questioning janet yellen today when treasury secretary testifies before the senate finance committee this morning tomorrow faces house ways and means on president biden's budget, markets selling off a take a look, the dow industrials right now near lows of the morning decline 227, two-thirds of 1% s&p down 34 nasdaq lower by 142.
markets fell to the lows this morning, after target sold off, as revised its 2022 outlook announcing planning to cut inventory cancel on this stock down almost nine percent right now, it is expecting much lower margins in the second quarter, this after market trade upped just by a fraction in fact, the dow industrials were up 16, nasdaq was up 48 s&p was up 12 let me point out that yesterday was one of the lowest volume as the we have ever seen, to volume was just not there yesterday, over time prices this morning, they are hovering around 118 dollars a barrel this morning, as we got new record highs in gasoline, the price of brent down a quarter of one percent at 119.25, price crude oil down a quarter of one percent, 118.23 as aaa reports another record high, for the price of gasoline, we are now at 4.91 a gallon that is 28th record
high in the last 29 days. on gasoline. diesel a dollar higher than that, short term trts pulling back this morning but still he above 3%, after a year of spending. sent inflation to 40-year highs y50e8d on 10-year 3.031%, as you can see, this is a time line engines joe biden walked into white house economic data report from markets this weekh week the skooern index steady, increasing 7/10 month-over-month that friday with all-hands-on-deck as we reportedly on inflation of the day european markets down, take a look, in eurozone this morning ft 100 down a 16 cac quarante down 17 dax lower 166 right now in asia overnight, markets, were well it was mixed overnight in asia the wroers performer was korea
kospi index down one and two-thirds percent, this, elon musk threatening to warm from will be to acquire twitter says company refusing to releaseing in on number of fake accounts, texas attorney general ken paxton suing twitter wanting more information on fake accounts charging misled security regulators reported 5% are bots, and fake "mornings with maria" is live. maria: morning mover, retail retail takes a hit across the board after target said its profits of will drop because it has too much inventory, the company reporting ilt needs cancel otdz or offer discounts to clear things up signaling how nation, is stinging, on affecting retail supply and demand mulling down retailers as welcome in premarket take a look walmart down better than 3% aztar is down almost 9%,
for cutting outlook second time three weeks expecting, 2% operating margins versus estimate expectation 5.3%, operating margins for second quarter eric adams slamming policies that put repeat offenders back on streets what has he done. >> no one takes criminal justice seriously, any more. these bad guys no longer take them seriously, they believe our criminal justice system is a laughingstock. maria: yeah, this as new york governor kathi hochul signs series of gun control bills into law he raising illegal age to buy submittal semi from 18 to 21 lee zeldin member financialaires, running for governor new york his primary coming up in a couple weeks
congressman, thank you so much for being here your take what kathi hochul signed into law this week. >> this is a-rated nra endorsed member of congress in the day same with gillibrand when members of congress had pro-gun ratings records become statewide elected in new york they want to try to make up for all that lost time go as far to other extreme as possible, worried about their left flank to be quite honest kathi hochul has a prior coming up june 28 tragedy in buffalo was terrible, what happened in response, was that you had o politicians in albany one party democrat rule trying to pull bills off shelves that wouldn't pass nominally because of pause there in legislation tried to pass as much as they possibly could, so, i feel like,
unfortunately, this state already has strictest gun control laws in the entire nation rushed to pass billed without voting them first and adequately not right way to lead. maria: look, what are you going to do differently congressman? your gop primary new york governor coming up you the i understand he of the month, how is the campaign going? and what do you want to tell our viewers about how your potential agenda might be different than kathi hochul. >> so a many respects came to this point clip with mayor adams i believe the bail should be repeal kathy hochul saying she needs more data didn't believe it i believe alvan bringing manhattan district attorney should be fired i would fire him day one i have constitutional authority to do that as governor of the state of new york kathy hochul could do that she says cut him slack just got there doing his job
we need people to feel safe on streets subways homes businesses, as you asked about some of the gun laws being passed, unfortunatelyings politicians in albany aren't dealing with all crimes that don't involve against the asian american community shoved into a koor dying, businesses looted you talked with speaking target numbers small businesses larger businesses people just come and a lot, and there is no consequences, unfortunately here in new york state as a consequence, impacts the business climate, businesses making decisions with lost revenue higher insurance costs whatnot. i believe, that our economy as you show will numbers, of crude oil, hitting new highs record gas prices, in the state of new york, we can
start safely extracting natural gas, from the shelves do it he in other states apply pipeline applications creating jobs general railting revenue reviolatelizing communities liz goes on why new york leads country in population laws how easy to turn this around but we have to. fire kathy hochul one party rule in albany i want to be able to do it. >> you've got an economy that is slowing down sharply yet president biden, is making these incredibly bold claims, on twitter yesterday, he tweets this, at the time i took office about 16 months ago the economy which had stalled and covid was out of control, today, thanks to economic plan and vaccination plan that my administration put into action america has achieved most robust recovery in he modern history i am not sure where he is seeing a robust recovery, in modern history when in fact in a contraction right now tweet
comes as gasoline prices have more than doubled, since biden took office, inflation is up highest levels in 40 years, economically speaking in new york what can you do to change this? >> we also have on top of things i spoke about with energy, and right now the push in albany they want to pass as next big bill, a ban on all gas -- statewide if you look at state budget i was in a senate four years two terms, before i got in congress we had a self request imposed state spending krep they've blown past that increased spending tens of billions of dollars, they have done in it short amount of tragedy rejectry unsustainable it wasn't always like that acquiesce to bring spending under control cut taxes across
the board income taxes he state taxes economic front improve business climate take advantage of opportunities, in energy industry and beyond. maria: are you going to be able to convince voters? i know that the new york mayoral election, had smallest turnout ever, in terms of those who voted for mayor bill de blasio what are you feeling in terms of the make-up of new york state in terms of voters who agree with you? >> maria i would not be in this race to come in second i am all-in giving up seat in the house enjoy serving in congress that is rescue mission to stave our state isn't just about republicans registered conservatives but independents democrats, disfranchised kademocrats roil unsustainable this isn't rock-bottom will get worse if we're not successful this november.
>> a lot of disendisenfranchisedvotes i agree with you good to see you we will be watching thanks very much your primary coming up the end of the month lee zeldin joining us this morning, elon musk stirs the twitter pot again threatening to walk away from 44-billion-dollar takeover we will tell you why when we come right back. . . living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor start an anti-diarrheal and drink fluids.
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>> welcome back. elon musk, at about we'll twitter now threatening to walk away from his 44-billion-dollar takeover deal kelly o'grady is here now with more, kelly, good morning to you. >> good morning, maria, yeah he is issuing most direct threat yet to walk, now has openly tweeted twitter is misstating fake accounts yesterday's sec filing first formalset to potential break auto company trofk satisfy requests, arguing a clear
agreement, value rests on users number monetizable you users will impact how profitable company can be how easily can service that debt folks in industry one of two things likely considering i suffering from buyer's remorse or seeking a lower price he twitter tesla stock worth less than when billionaire entered his bid overpaying with many may have difficulty. >> twitter intends to enforce agreed price what i am hearing he wants to do the deal if he tries to walk decision to waive due diligence will make that difficult i have had number of conversations with transactions blaurz does have cause to break deal if twitter he intentionally misrepresented easier base to sec attorney general watching separate investigation into bot account, a political move representative of head wind twitter faces preliminarily
likely can't stand much more pressure on stock price elon may have upper hand right now. maria: kelly great, to have you on, this story kelly o'grady thank you, dagen we had on harvey pitt former chairman securities and exchange commission a week ago he said he didn't think fwlaud twitter said to sec it was 5% fake accounts but waiting on confirmation that is actually the number. dagen: one way or another, whether elon musk, or as kelly was meaning we talked he earl when securities and exchange commission, what is real truth about the number of bots on the platform. because elon musk in a tweet said he thinks close to could be four times higher than what twitter is saying close to 20% of twitter's accounts but
elon's presence i use first name as if i know him presence on twitter showed what could possibly happen to the platform. that is more engagement from people you want to hear from. including elon musk. maria: lee, as soon as he launched this bid people were questioning company worth 44 billion dollars i will say that is it even profitable? no. lee: not profitable a lot he can do i think seeing potential we night all seeing, i think biggest problem anyone can have the folks still at twitter because they've been exposed for what they are people aren't going to trust it what does that mean as we engage with it, twitter is going to do everything to try
to save this deal this is as good as it can get for them. maria: . >> i would think so inflation coming to store near you we will find out impact of higher prices with may consumer price index on friday what markets are expecting, we will take a look when we come right back. ♪♪ there ain't no way ♪♪ ♪ (vo) singing, or speaking.
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. maria: welcome back, target is pressuring stocks taking down market sell-off after target gut profit outlook second time three weeks stock down 7 1/4% taking dow industrials down, 227, the s&p on nasdaq negative right now, joining me right now capital advisories president chief investment officer, antone, greet to see you thanks so much for being here this morning. my pleasure. i want your take on macrostory talk about banks, of course, you are expert on have been invested mid sided a long time since i know you i want your
take on new story, about the securities and exchange commission coming out with new rules on stock market first your thoughts what is going on with this market, down downtown double digits year-to-date. >> higher rates cause low stock market what fed has done raised rates jawboning, caused longer rates to rise also more than lockstep on short end that caused lock of confidence, and obviously, valuation comes down a high priced growth stock future cash flows worth less. if interest rates are higher that simply 30% stocks down 30% or more, fed helped to take speculation out of some markets. maria: what is the level for you, as an investor to say okay. the 10-year is above 3%, like it hit yesterday, remains there today. i am going to start shifting
money from equities into fixed income why take risk buying equities when i can devote 3% in treasury market for the 10-year as we await may consumer price index, out friday by the way, the inflation story, is one of the major issues to this economy, we're expecting nation to stay elevated up 8.3% year-over-year what we saw in april,up 7/10 of a percent month-over-month look at 10-year this morning antone 3%, does this represent a barrier or a moot point for you to shift funds over to the 10-year? >> well, look. i'm an equity guy i think value particularly banks own good stock cheap big discount relative to s&p, trade very well multiples credit quality great jamie dimon talked about hurricane every other bank ceo
came on did not ecosame thoughts i am not sure if he could walk backwards he sounded a whole lot more up pate lots of capital ebb reserves, we can't find the credit quality issues over that lower tier consumer balance sheet in good shape i think more sentiment going on with consumer a little bit concerned obviously, lost in stock market in crypto, but i think there is a lot of money to be made eventually in value, crypto is back to 2000 talked about it for a long period of time, you look at 2000 dot com wreck people kept looking for bottom market necessarily may not have found bottom some stocks i think close to bottom lines some charts look a lot better than expected investments for some stocks are too low versus market earnings estimates
probably a little too high i think market within markets got to pick spots growth is still in for a challenge, valuation still very high there. >> s&p 500 down 13 1/2% year-to-date, what struck me most about the jpmorgan ceo comments jamie dimon, he said teller going to be much more conservative because they are managing their balance sheet as economic hurricane coming brian moynihan was on the show a week earlier said consumer balance sheet are higher than a year ago, savings accounts are higher than they were a year ago the consumer has the will though to spend so tell me how you allocate capital you like major midsized major banks despite sell-off we've seen in financials year-to-date. >> absolutely i think a good article out this morning talked about migration of beam to the lower tax states it keeps happening, trend growth
tennessee florida texas i am finding banks have nice dividend yields above trend lows, mergers at right prices mid-cap small cap getting mergers down, big, regulators all over, the first in mississippi mostly florida now acquisition, i look at -- equity banks kansas againing manufacturing, manufacturing can be very important to the u.s. economy supply chain is going to come back we are getting people back to work from consumer perspective, jobs a lot of job options yes some, yes layoffs but twice as many job options as people unemployed i think still time i think fed has done a great job caused things to slow down speculation out of markets i am not sure rates are as high as people are afraid of of i think consumer goods will come down obviously, target news --
can you imagine trying to manage supply chain today not knowing whether ships get there not knock if order six months a year ago guysing to show up those people have a really tough job at walmarts tarringets, that is a great point to capitalize on manufacturing expansion in united states we showed your picks on screen, just getting the april u.s. trade balance we are showing them bottom of the screen 87.1 billion versus 89.58 talking about economic data that is you affecting markets, as the securities and exchange commission chairmen gensler is going to be announcing tomorrow new ideas, to reshape the stock market, making he says it will make it more efficient, for small investors public companies do you see any impact on trading, with any new rules coming out of the sec? >> well i think it is going to be tough to get some rules
enacted or passed but always been a questionable business much cleaner, securities, used to be a major player if any idea some challenges in that business, however, the payment for order flows allowed brokeers to give free trading, be careful what you wish for i think schabs done a pretty good job selling orders getting paid for it. maria: i said earlier we have deepest, most liquid markets in the world, why creating new problems make changes, i have the is always a pleasure to catch up with you thanks so much, we are looking at market, that is worsening after trade numbers, dow industrials down 260 right
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maria: welcome back president biden facing criticism this morning for invoking defense production act, to boost plucks of solar panels is it another knod to china cheryl casone. cheryl: in the middle of record-high inflation baby formula shortage chinese greks president biden once again pushing clean energy agenda even defense production act to authorize energy department to expand production of solar panel parts building insulation, electric power, representative reacting on twitter saying quote can't find baby formula for newborn can't afford to fill up your gas tank don't worry, uponents new solar panels u.s. manufactures saying will set back he domestic production of panels citigroup planning to hire more than 4,000 techs to
bring institutional clients online part of aggressive growth strategy right now banks upgrading decades all technology platforms to make services available remotely for clients and workers citigroup down slightly in premarket. well, stunning news in fight against cancer a small trial of the drug kl reportedly achieved unheard of results, o mitigation of cancer in all patients study from new england of month give a the drug for six months after completed every single patient went into remission, nonpatients needed further treatment nonrelapsed, up to two years follow-up appointment from glaxosmithkline by the way, there is an arizona man using the desert heat to cook burgers, and steaks bake a
cake. >> 200 degree car joe brown cooking show on tiktok gained millions of viewers experiment started in march -- car so hot wondered how long to bake a cake decided to do that can also fry eggs on the sidewalk in arizona during summer months. >> hilarious i love that glaxosmithkline drug, thank you so much. >> you bet. >> amazing stories this morning biden administration, considering relaxing u.s. tariffs on chinese goods, i told you this was coming u.s. trade representative says more complicated than cutting tariffs on chinese goods as predicted hiding behind inflation tactics publicly warning biden not to lift china tariffs there are too
many u.s. companies failed the take needed action to address threat posed by ccp policies joining me right now is wolfpack research founder chief investment officer dan, great to catch up with you today two things the ccp wanted from joe biden, when he walked into the white house. number one, they wanted him to do away with china initiative, where we would actually investigating the intellectual property theft they were paying for it number two wanted him to lift the tariffs is this another nod to china what is your take on possibility of biden lifting the china tariffs that were put in place under the trump administration? >> thank you for having me back maria. i think a terrible idea, and everybody around president biden thinks it is a terrible idea the senior leadership are saying that we should not be lifting tariffs, but he seems you know, just bent on making sure china is happy. i don't think going to help
our economy either. certainly not in long term any short term bump from lifting tariffs really puts us back in the same situation where we're not in control of supply chain we are beholden the china, rather than diversifying to other ooers asian did you know these like vietnam this is time to diversify not to lift tariffs, it was the one thing i thought he was really doing well, foreign policy was keeping the trump policies in place tariffs in place. maria: a yeah, that is exactly right. dan, look, we have a situation here ccp, is pretty much getting what it wants from this administration. it seems page out of page of this administration is page out of page out of ccp playbook whether covid lockdowns, or disinformation board, what is going on? now you've got china
reportedly ending year long probe into ride a hill giant didi globally, lifting plan allowing users you a allow egg didi back, chinas authorities announced probably into company disafter lifting on new york stock exchange over concerns documents required by u.s. regulators might contain incentive administration this brings me to allowing chinese companies controlled by ccp into federal thrift fund 401(k) for government employees window mutual funds mutual funds can take on ccp controlled companies. why are we allowing u.s. government officials to put chinese companies in their 401(k) plan, dan? >> maria, you know i fought begins this 12 years
documentary goes into great deal knowing xhooengsed hundreds billions changed all times not illegal in china for chinese citizen to steal from american citizen not legal so we have china based ceos come here, set up companies, fraudulent when caught not process cuteble can't get money back with didi that was state-sponsored fraud as far as i am concerned they knew they had problems with didi let them become public in new york, two days later incinerate 12 billion dollars market cap i am sure they didi, a lot of people left behind who would want that why want that junk on our
exchange, or any rest of them? in not to our rules no reciprocity they should go. >> you know what i always say i am wondering why this administration doesn't get it, rob, replicate replace. that is the strategy of the ccp they've done it over and over again, go in, rob american companies, replicate what they're doing ultimately replace american companies, that is what is going on that is the ccp strategy, why is the administration, allowing this? and, by the way, did you read anything into this new trade pact with taiwan u.s. and taiwan launching noouf initiative 21st century trade according to document blushed by u.s. trade representative earlier to develop concrete ways to deepen trade relationship between u.s. and taiwan are you buying it? do you think china will respond?
is u.s. doing enough to partner with taiwan as everybody expects ccp to try to take over taiwan at some point? >> not in real way, i think that these are interesting headlines in are trying to get ccp xi jinping to negotiating table. working on terms. i don't think that any kind ofs substantive trade deal that will improve our reallocation was taiwan we have really good relation was taiwan fact of the matter we -- to fight a war for hymn helping them make it had, i don't think there is we are he putting people in harm's way the more visits with taiwan, the better it is for us and taiwan makes it harder for china i think that part of it is good but there a difference between headlines, talk, and action. and i am not seeing the action, i see action, in you
know, tax increases down pike, no-no no more drilling gas prices going up action in spending, part of this three-point plan going to spend going to tax o not going to do -- you know, then talk tariffs, this is going to solve our problem with inflation? no way. >> it is policy that makes no sense, dan good to see you. thanks very much for weighing in on all of that, we so appreciate your o experience, and knowledge dan david joining us this morning, thank you, sir. quick break biden failure to focus on crime spiking across the kin former o o detroit police chief here to discuss the crisis how to fix criminal justice system. he is coming up. stay with us. . dad, when is the future?
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s. >>. >> maria: welcome back. a california teen who howed, down mother and infant walk downing street will seven just five months you in juvenile probation camp george gascón's office calling sentence appropriate resolution, despite the fact teen was on probation at the time of the incident. joining me right now is former chief of police in detroit, chief james craig is here chief thanks very much for
being here this morning, what is gascón thinking? what is your reaction to this -- to this story? >> you know i got to tell you maria i am not surprised we think of that prosecutor like the one in san francisco these woke prosecutors don't speak for victims, and to make this response, well, is good a minor, as far as i am concerned i saw day video looked like intentional when he tried to run over did run over a mom and child, to make this claim really of wasn't intentional nobody was jaurd, put him in camp five months be done with it this is the problem today you got prosecutors making bad decisions, and no wonder we see significant increases in crime around our country. >> hoo dagen mcdowell jump in here. dagen: i mentioned san
francisco. and today, chesa boudin the district attorney there up for recall he could lose his job, he was elected on a platform of decars eration. >> sick of living in fear. in filth doufrn this is potentially a real watershed moment for standing up for law and order and those wearing blue? >> absolutely, i think it is a great time i hope he is recalled i hope gascón someone else with a lapd called send a consistent message, they talk about root causes in this administration it is comical what are root causes of violent crime certainly not reforming the police what it is is reforming the criminal justice system, totally ignore
the actions of judges, actions of woke da's don't take them on why? because they are all political some judges appointed or elected d.a.s elected, most times you have the same party, so they say nothing they are complicit. maria: yeah, cashless bail, cashless bail one of the biggest issues as well as this defunding of the police. how did they think this was going to turn out, meantime, you are wanted to take your leadership to higher office and you were being stopped. you are an african american you were the chief of the detroit police. you were the front-runner in your race to become governor, and now we see that you've lost your bid to appear on august primary ballot after the michigan court of claims denied your appeal to be put back. you were one of five gop ub gubernatorial candidacy
nominating petitions to qualify for ballot they said were wrong and took your name off the ballot. what is going on chief? if this were on left you being who you are a former chief of police african american i could understand massive upset but took your name off the ballot that is not the case because you are a gop. >> you are right there is a separate standard for gop, whether police chief or not matters not what i find interesting the governor, submits 30,000 signatures, i wonder how many of her signatures were good signatures nobody wants to talk about that look the real victim in this michigan voters, without those as you pointed out consistently leading in polls among gop contenders, by the way, i should not leave out the fact that the first attack came from one of the gop contenders who is polling extremely low
two, and three percent consistently, she wanted me out, then next attack came from democrat no surprise because i was a threat. so shameful that is exactly what it is it is about the voters. maria: is there anything you can do now? >> yeah, you know what we will evaluate i am going to be thoughtful in this evaluation because about michigan voters certainly looking at write-in campaign i know a long shot my critics will say ridiculous, but i am doing what i need to do to support michigan voters. . >> all right chief thanks very much we will follow the race we appreciate your time, and your leadership, chief james craig joining us this morning, thank you, sir. quick break then a blast from the past makes a buzz thank you, sir. we have a big buzz after the break. . the dribbler, and the day-dreamer... the dribbler's getting hands-on practice with her chase first banking debit card... the drummer's making savings simple
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t. rowe price. invest with confidence. maria: welcome back. time for the "big buzz" of the morning. hey did you know it's national v cr day? some of the true videotapes maybe worth a bundle. nostalgia can sell big and back in february, an unopened vhs of the original "star wars" was valued at get this , more than $60,000. dagen, you must have some vhs tapes over there at home? dagen: i have a copy of the star wars christmas special, which
was horrific. maria: [laughter] dagen: it was for tv and it was embarrassing and i have a copy of it, and i'm keeping it, even though i have no way of playing it at this point. maria: [laughter] well it's going to be worth big money. lee, what about you? will you invest in vcr tapes? >> i do i think i still have the full collection of all of the disney movies starting with "beauty and the beast." maria: good one. dagen and lee, great stuff have a great day, ladies we'll see you again tomorrow "varney" & company begins right now stu take it away. stuart: good morning, maria, and good morning, everyone. at risk of sounding like a broken record energy price inflation has hit us yet again. it's the number one economic problem, everybody sees it, everybody feels it, but it just keeps on coming at us look at this. we've got another record high for gasoline this morning up a nickel overnight to an average of 4.91. 13 states now have $5 gas. looks like it goes
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